In the case of leaseholds, our fee assumes that:
- this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- this is the assignment of an existing lease and is not the grant of a new lease
- the transaction is concluded in a timely manner and no unforeseen complication arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
If property is leasehold, then these additional disbursements could also be anticipated
- Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50 and £200 + VAT.
- Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50 and £200 + VAT.
- Deed of Covenant fee – This fee is provided by the management company and/or the landlord for the property and can be difficult to estimate. Often it is between £100 and £250 + VAT.
- Certificate of Compliance fee – To be confirmed upon receipt of the management pack, as can range between £100 – £150+ VAT.
*These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.
Please note that certain factors will typically increase the cost of the service. For example:
- if the legal title is defective or part of the property is unregistered
- if we discover building regulations or planning permission have not been obtained
- if crucial documents we have previously requested from you have not been provided
- if the matter is prolonged or delayed due to unforeseen circumstances
Referral fee (if any). This is not payable by you:
These fees are usually paid to estate agents who refer work to us and are between £100 – £200, except referrals from Lifetime Legal where we will let you know.